CNN Was Reportedly Set to Cut Wallace’s Salary and Axe Shows
A hefty salary cut and show cancellations were expected to hit veteran journalist Chris Wallace if stayed at CNN, according to Puck News.
The outlet has revealed that CNN’s CEO Mark Thompson was going to cancel both of his shows, Who’s Talking to Chris Wallace and The Chris Wallace Show. The network reportedly said Wallace could have stayed on as an analyst but would have to take a serious pay cut and far-less airtime.
The news comes after Wallace did an exclusive interview with The Daily Beast earlier this week where he revealed his departure from CNN, and said he was wanting to pursue a career in streaming or podcasting. In his interview, he said that the newer digital platforms were “where the action seems to be.”
According to the Daily Beast’s exclusive, “CNN wanted to retain Wallace but his decision to quit ahead of contract talks will be seen as a sign of CNN’s waning influence in the media landscape.”
Puck reported that Wallace was informed about CNN’s decision before he made his decision.
“The CNN leaders conveyed that news to Wallace’s agents, though Wallace maintains that he never engaged in any discussions about a future role because he’d already set his course," according to reporting by Puck.
In the article, Wallace said he had made up his decision six months ago, and that “any further speculation is irrelevant.”
His shows, and the network in general, have experienced waning viewership.
“The most recent broadcast of The Chris Wallace Show drew 450,000 viewers and just 85,000 in the advertiser-coveted 25-to-54-year-old demo—an audience size at which it’s increasingly hard to justify most of the talent salaries at CNN," wrote Puck.
